Bank of New York Mellon Corp Increases Stake in FS KKR Capital Corp. (NYSE:FSK)

Bank of New York Mellon Corp boosted its stake in FS KKR Capital Corp. (NYSE:FSK) by 75.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,189 shares of the company’s stock after buying an additional 26,703 shares during the period. Bank of New York Mellon Corp’s holdings in FS KKR Capital were worth $1,351,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FSK. Acorn Wealth Advisors LLC increased its stake in shares of FS KKR Capital by 2.4% during the fourth quarter. Acorn Wealth Advisors LLC now owns 47,280 shares of the company’s stock valued at $1,027,000 after buying an additional 1,088 shares during the period. IFP Advisors Inc increased its stake in shares of FS KKR Capital by 24.0% during the fourth quarter. IFP Advisors Inc now owns 52,928 shares of the company’s stock valued at $1,150,000 after buying an additional 10,256 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of FS KKR Capital during the fourth quarter valued at approximately $1,852,000. MONECO Advisors LLC increased its stake in shares of FS KKR Capital by 241.6% during the fourth quarter. MONECO Advisors LLC now owns 53,640 shares of the company’s stock valued at $1,165,000 after buying an additional 37,939 shares during the period. Finally, WESPAC Advisors LLC boosted its position in shares of FS KKR Capital by 36.5% during the fourth quarter. WESPAC Advisors LLC now owns 33,358 shares of the company’s stock valued at $725,000 after purchasing an additional 8,913 shares in the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSK has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price target on FS KKR Capital from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on FS KKR Capital from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price target on FS KKR Capital from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday, March 3rd. Wells Fargo & Company lowered FS KKR Capital from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $21.00 to $19.00 in a research report on Monday, March 17th. Finally, B. Riley lowered FS KKR Capital from a “buy” rating to a “neutral” rating and set a $21.50 price target on the stock. in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, FS KKR Capital presently has a consensus rating of “Hold” and a consensus price target of $21.30.

FS KKR Capital Trading Up 1.1 %

Shares of NYSE:FSK opened at $20.69 on Monday. The company has a market cap of $5.80 billion, a P/E ratio of 11.01 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.96 and a quick ratio of 2.96. FS KKR Capital Corp. has a 1 year low of $18.53 and a 1 year high of $24.10. The stock’s fifty day moving average price is $22.61 and its 200-day moving average price is $21.45.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $407.00 million for the quarter, compared to the consensus estimate of $419.97 million. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. Sell-side analysts expect that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 13.53%. The ex-dividend date is Wednesday, March 19th. FS KKR Capital’s dividend payout ratio (DPR) is presently 122.49%.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.